Bitcoin recovered $96,000 following a difficult start to this week. According to CoinGecko, at the time of publishing, Bitcoin is currently trading around $96,580. This represents a 5.8% increase in 24 hours.
This sudden rise comes amid reports that Donald Trump, the president-elect is planning to release a crypto-friendly executive order soon after his inauguration. According to sources Decrypt This week, this may have included a crypto council made up of 20 industry CEOs as well as the elimination of SEC rules that prevent conventional banks from owning crypto.
Data from Farside Investors shows that investors have pulled $569 millions from Bitcoin ETFs since January 8th, a day when they recorded a daily outflow.
Bitcoin hit its lowest monthly value of $90,000. This was on 13th January. The lowest monthly value was recorded on January 13, amid a bull market following Donald Trump’s election and speculation about government support of the crypto industry, as well as a national Bitcoin Reserve.
Goldman Sachs, an investment bank, has made predictions that the US Government will delay interest rate cuts in response to positive employment numbers. Some analysts believe this may be the reason for the recent dip.
David Duong, Coinbase’s Director of Institutional Research and Head of Institutional Research at Coinbase. Decrypt The following are some examples of how to use “concerns that the Fed may not deliver any cuts in 2025 are putting pressure on assets across the board.”
A lower federal interest rate can positively impact asset prices as it allows for more affordable investment.
Although recent losses were recovered, Bitcoin's price It’s still down 4.8% from last week and 5.6% for the same time period in December. The stock is down about 11% from the peak of $108,000 it reached on December 17
Bitcoin’s value is still 125% higher than it was a year ago, even though the price has fallen from its December peak.